Business

SeABank posts 2.3-fold surge in Q1 pre-tax profit

The Southeast Asia Commercial Joint Stock Bank (SeABank) earned pre-tax consolidated profit of 698.3 billion VND (nearly 30.4 million USD) in the first quarter of 2021, an increase of nearly 2.3-fold year-on-year.
SeABank posts 2.3-fold surge in Q1 pre-tax profit ảnh 1Transactions at SeaBank (Photo: VNA)
Hanoi (VNA) - The Southeast AsiaCommercial Joint Stock Bank (SeABank) earned pre-tax consolidated profit of698.3 billion VND (nearly 30.4 million USD) in the first quarter of 2021, anincrease of nearly 2.3-fold year-on-year.

The bank said in its Q1 business performancereport that as of March 31, total assets topped 184.3 trillion VND, up 24percent year-on-year, deposits nearly 115.2 trillion VND, up 16.8 percent, andloans over 111 trillion VND, up 14.3 percent.

SeABank was recently listed by the State Bank ofVietnam as one of the 17 most important credit institutions in the bankingsystem in 2021. It was also given a “B1” long-term rating, equivalent to astable outlook, by Moody’s for the third time.

Its stock, coded SSB, has been traded on the HoChi Minh Stock Exchange (HoSE) since March 24, making it the third bank to belisted this year.

The bank expects growth of 39.6 percent in pre-taxprofit this year to more than 2.4 trillion VND./.
VNA
#SeaBank#pre-tax consolidated profit#Q1 business performance#total assets#State Bank of Vietnam#Moody’s#HoSE#Vietnam News Agency#vietnamplus
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